Quality of Life in Philadelphia, PA on an Annual Income of $52,360

Philadelphia, PA, presents unique challenges and opportunities for residents, especially when considering an annual income of $52,360. Below is an analysis of how this income supports an individual's quality of life in relation to the cost of living and housing market when compared to national averages.

Cost of Living

• Overall Expenses: Philadelphia's cost of living is slightly above the national average. An income of $52,360 is modest and requires budgeting to accommodate basic needs and occasional leisure activities.
• Essentials: Grocery prices and transportation costs sit slightly higher than the national average, demanding practical budgeting for day-to-day living.
• Utilities: Utilities in Philadelphia are comparably priced to other major cities, which can be managed sufficiently with this income level.

Housing Market

• Average Home Prices: As of late 2023, the median home price in Philadelphia is around $250,000, which is more affordable compared to other major cities like New York or San Francisco but may still be a stretch for an individual earning $52,360.
• Renting vs. Buying: Renting remains a popular option due to the lower upfront costs and the flexibility it offers, with average rents in the city for a one-bedroom apartment ranging between $1,200 and $1,500 per month.

Quality of Life

• Leisure and Culture: Philadelphia boasts a rich cultural scene with museums, parks, and a variety of dining options, making it a vibrant city for those enthusiastic about arts and history.
• Community and Safety: Some neighborhoods have undergone revitalization, offering tight-knit communities, though certain areas may still present issues with crime that could impact one’s perceived quality of life.

Access to Healthcare

• Healthcare Facilities: The city hosts a number of reputable hospitals and healthcare facilities, ensuring good access to medical care for residents.
• Healthcare Costs: Medical expenses can be significant, so having appropriate health insurance is crucial to managing these costs effectively on a $52,360 salary.

Quality of K-12 Schools

• Public Schools: Philadelphia's public school system has pockets of excellence despite facing challenges such as underfunding and overcrowding in some districts.
• Private and Charter Options: Numerous private and charter schools provide alternatives, although they come with additional costs that can be burdensome on this income bracket.